Last Updated on November 27, 2022 by Hammad Hassan
A truck transports 90 percent of all consumer goods and food throughout the world to the ultimate destination; hence, a lorry driver is critical to a country’s economic prosperity. A truck driver’s income is determined by several criteria, including where they operate, the distance traveled, the capacity of the equipment, the magnitude of the employing firm, seniority, driver credentials, labor conditions, and salary package.
However you may never be able to earn $1 million a year right away, given the high demand for truck drivers, you can earn $80,000 or more with experience, specialization, CDL education, and the proper employer.
Yearly salary
The income of a truck driver is determined by several criteria, including the truck driver’s expertise, status, and knowledge, among others. And according to the Bureau of Labor and Statistics, the average wage for lorry drivers in 2018 was $43,680. This does not, therefore, account for drivers who do not work long hours or examine the discrepancies between individual and business drivers. As a result, according to BLS, yearly income can start as low as $28,160 to as high as $65,260.
The distinction for America’s approximately 3.5 million lorry drivers, and according to American Trucking Associations (ATA), is that salaries should remain stable for the foreseeable future as the market attempts to find adequate drivers to fill its commands, particularly as many professional drivers started to retire.
Hourly wage
If you’re a skilled driver, you might make the same or more as 60 cents per mile. For carriers, negotiating wages based on mileage (cents-per-mile) rather than hours might be a wise career move. With all of this in the account, a truck driver who travels at a pace of 70 miles per hour may earn around $42 per hour. However, unless you’ve been driving for a lot longer and also have a good driving record, there isn’t much space for negotiation when it comes to salary.
You’ll have to work at a lesser pace until you gain sufficient training to be able to “dictate what happens.” Furthermore, earnings by mile may not always be profitable on days when traffic or track conditions are poor. These are all common elements that influence truck driving wage rates.
What is the pay for truck drivers?
And according to the Bureau of Labor Statistics, truck drivers had an average annual income of $39,520 in 2014. The least 10% of lorry drivers made a median salary of $25,740, while the highest 10% made a median salary of $61,150. It’s worth noting, however, that, unlike many other occupations, truck drivers are rarely given an annual income or hourly compensation. Commercial drivers are compensated in cents per mile.
- The average salary per mile for a truck driver is about 28 and 40 cents.
- The average weekly mileage for most drivers is around 2,000 and 3,000 kilometers.
- This amounts to a weekly wage of $560 to $1,200 on average.
- You’d make between $29,120 and $62,400 if you drove for 52 weeks a year at those rates.
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How much does a prime trucking driver make?
Vehicle driver compensation at Prime is higher than the industry average, and it varies depending on the sort of operator you become the more kind of truck you drive. Corporate single drivers, corporate team drivers, and self-employed persons all earn different amounts. Refrigerated (reefer), flatbed, and tanker are the driving divisions that indicate the type of vehicle you drive.
- Solo corporate drivers that work for a refrigerator make 44-49 cents per mile. In a normal week, a business refrigerated driver covers between 2,400 and 2,800 miles and earns between $1,128 and $1,316. Overall income would vary around $58,656 and $68,432 if he or she transported the same miles for the full 52-week year.
- Solo flatbed truck drivers make 46 cents each mile. A flatbed driver, like the one above, generally drives between 2,200 and 2,600 miles each week and earns $968 to $1,144. Wages would range from $50,336 to $59,488 over 52 weeks.
- Drivers for tanker solo companies make 51 cents per mile. Income would vary from $882 to $1,078 each week and $45,864 to $56,056 for 52 weeks if the truck turned 1,800 to 2,200 miles per week.
Things affect a company’s driver income
Drivers that are paid per mile are only paid while the truck is going ahead. To put it another way, truck driver pay does not cover the following expenses that consume your time on the road:
- Standing in line at border checkpoints or customs.
- Stuck in traffic.
- Measuring and checking a load.
- Conducting a circular inspection on your trailers and truck.
- Standing for DOT scales and examinations.
- Going to wait for loading and unloading of goods delays.
- Waiting for vehicle or trailer services.
Furthermore, federal safety standards restrict your driving duration to 11 hours per day, with limited exceptions, within a 14-hour driving window.
Whenever you begin your driving profession, it’s critical to design routes to maximize the mileage you can safely go while staying below the legally authorized driving limits, as well as to reduce the length of time the truck is stationary.
How to work as an independent contractor?
The best way to increase your profits as a lorry driver is to work as an independent contractor, often known as a shareholder.
Self-employed individuals have more flexibility in terms of the lines they run, the times they run, and the amount of money they bring home. Unlike corporate drivers, Prime independent contractors are paid a percentage of the transportation bill or perhaps a fee per mile for the loads they transport.
- Independent contractors that drive a refrigerated truck and flatbed carriers both get 72 percent of the freight bill.
- Tanker companies are paid 71% of the freight charge.
For the first three weeks as an owner-operator, drivers with at least six months of driving dynamics will make a maximum $1,000 each week.
Through Success Leasing, Prime now offers drivers the option of leasing a truck. As a result, the ambitious entrepreneur has the option of starting a firm with no cash down and no background check. Prime provides a variety of cutting-edge trucks that are fitted with innovative safety features such as detector tracks and lane divergence early warnings.
